{"id":7280,"date":"2021-01-19T08:35:34","date_gmt":"2021-01-19T08:35:34","guid":{"rendered":"https:\/\/www.mrpeasy.com\/blog\/?p=7280"},"modified":"2024-06-03T14:00:12","modified_gmt":"2024-06-03T14:00:12","slug":"shopify-inventory-management","status":"publish","type":"post","link":"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/","title":{"rendered":"Shopify Inventory Management Basics for SMEs"},"content":{"rendered":"\n<p>Setting up a business in Shopify is an easy thing to do. Properly managing that business, however, takes work. Here are some techniques and apps for effective Shopify inventory management.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management.jpg\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"562\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-1024x562.jpg\" alt=\"shopify-inventory-management\" class=\"wp-image-7281\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-1024x562.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-300x165.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-768x421.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management.jpg 1502w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p><em>You can also listen to this article:<\/em><\/p>\n\n\n\n<iframe loading=\"lazy\" title=\"Shopify Inventory Management Basics for Manufacturers and Resellers\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=j4a3n-fc7af6-pb&amp;from=pb6admin&amp;download=1&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Arial&amp;skin=1&amp;btn-skin=3\"><\/iframe>\n\n\n\n<!--more-->\n\n\n\n<p>Even though the growth rate of e-commerce had been <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.oberlo.com\/statistics\/global-ecommerce-sales-growth\" target=\"_blank\">slowing down for a couple of years already<\/a>, the pandemic caused a new period of explosive expansion in the online retail industry. In 2021, e-commerce sales are <a href=\"https:\/\/www.shopify.com\/enterprise\/global-ecommerce-statistics\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">expected to reach 4.9 trillion USD<\/a>, which is more than double than what it was four years ago.<\/p>\n\n\n\n<p>While the lockdowns helped e-commerce sales soar, it also\ncreated an environment where people felt that it was time to set up a business\nof their own \u2013 either because they were left unemployed amid the pandemic, or\nthey found themselves with a lot of free time on their hands.<\/p>\n\n\n\n<p>Whatever the cause, <a href=\"https:\/\/www.economist.com\/united-states\/2020\/10\/10\/the-number-of-new-businesses-in-america-is-booming\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">the creation of new businesses reached a record high in the US in 2020<\/a>.<\/p>\n\n\n\n<p>And worldwide, over a million companies active online, new\nor old, sell their merchandise on the retail platform Shopify \u2013 an easy to set\nup, easy to use, easy to manage e-shop solution for businesses of all sizes.<\/p>\n\n\n\n<p>While in many cases the shops on the platform experience\nsteady, manageable growth, some go through rapid changes in both demand and\ninventory. Whatever the case may be, it is smart to have some inventory\nmanagement techniques up your sleeve when you work as a Shopify merchant.<\/p>\n\n\n\n<p>We have created a basic, actionable inventory management guide that anyone could use, regardless of whether they resell or make their own products. For manufacturers, however, we have also compiled a selection of Shopify integrations that would make their lives a lot easier.<\/p>\n\n\n<div class=\"banner-v2\">\n    <p class=\"banner-v2__desc\">Manage your inventory expertly with MRPeasy<\/p>\n    <a class=\"banner-v2__link\" href=\"https:\/\/www.mrpeasy.com\/sign-up\/\" target=\"_blank\" data-ga-event=\"blog_signup_banner_blue\">Try for free<\/a>\n<\/div>\t\t<style>.banner-v2 {\n    float: right;\n    display: flex;\n    flex-direction: column;\n    justify-content: center;\n    align-items: center;\n    padding: 40px 32px;\n    gap: 16px;\n    width: 356px;\n    height: 205px;\n    background: linear-gradient(199.68deg, #6084E5 13.17%, #5FA7DD 82.1%);\n    border-radius: 4px;\n    margin-left: 12px;\n    margin-bottom: 12px;\n    margin-top: 15px;\n}\n\n@media (max-width: 767.98px) {\n    .banner-v2 {\n         width: 100%;\n         height: 173px;\n         margin-bottom: 0;\n         margin-left: 0;\n    }\n}\n\n.single__content p.banner-v2__desc {\n    margin: 0 !important;\n}\n\np.banner-v2__desc {\n    width: 292px;\n    font-style: normal;\n    font-weight: 700;\n    font-size: 22px;\n    line-height: 29px !important;\n    text-align: center;\n    color: #FFFFFF;\n    margin: 0 !important;\n    order: 0 !important;\n}\n\n.single__content a.banner-v2__link {\n    color: #FFFFFF !important;\n}\n\n.single__content a.banner-v2__link:hover {\n    color: #003557 !important;\n}\n\na.banner-v2__link {\n    display: flex;\n    justify-content: center;\n    align-items: center;\n    width: 181px;\n    height: 51px;\n    padding: 18px 0;\n    border-radius: 4px;\n    background: #003557;\n    font-weight: 700;\n    font-size: 16px;\n    color: #FFFFFF !important;\n    text-decoration: none !important;\n    order: 1 !important;\n}\n\n.banner-v2__link:hover {\n    background: white;\n    color: #003557 !important;\n}<\/style>\n\t\t\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #343333;color:#343333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #343333;color:#343333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Why_is_Shopify_Inventory_Management_Important\" >Why is Shopify Inventory Management Important?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Shopify_Inventory_Management_9_Basic_Steps\" >Shopify Inventory Management: 9 Basic Steps<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Define_your_Stock_Keeping_Units\" >Define your Stock Keeping Units<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Create_your_products\" >Create your products<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Create_product_collections\" >Create product collections<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Set_up_inventory_tracking\" >Set up inventory tracking<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Hide_products_that_are_out_of_stock\" >Hide products that are out of stock<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Manage_purchase_orders\" >Manage purchase orders<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Use_ABC_XYZ_analysis\" >Use ABC (+XYZ) analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Use_other_inventory_management_techniques\" >Use other inventory management techniques<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Use_Shopify_Apps\" >Use Shopify Apps<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#5_Useful_Shopify_Inventory_Management_Apps\" >5 Useful Shopify Inventory Management Apps<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#MRPeasy\" >MRPeasy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Tier\" >Tier<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Quick_Scan\" >Quick Scan<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Stocky\" >Stocky<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#QuickBooks_Commerce\" >QuickBooks Commerce<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_is_Shopify_Inventory_Management_Important\"><\/span>Why is Shopify Inventory Management Important?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Inventory management means storing, handling, tracking,\nanalyzing, ordering, and dispatching materials and merchandise. As such, it is\nthe cornerstone of any business that sells physical products.<\/p>\n\n\n\n<p>As a lot of money is usually tied up in inventory, it is up to the inventory manager to make sure that the money put into inventory is not lost due to excessive storage costs, obsolete or expired products, or bad handling practices. The inventory manager also has to make sure to stock as much inventory as needed, and as little as possible, ensuring a <a href=\"https:\/\/www.mrpeasy.com\/blog\/inventory-turnover-ratio\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">healthy inventory turnover<\/a> and avoiding overstocking and stock-outs.<\/p>\n\n\n\n<p>If inventory management is done well, it can lead to a\nreduction in business expenses and noticeable improvements in your cash flow.<\/p>\n\n\n\n<p><em>Also read this <a rel=\"noreferrer noopener\" aria-label=\"comprehensive piece about Inventory Management (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/inventory-management\/\" target=\"_blank\">comprehensive piece about Inventory Management<\/a>.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shopify_Inventory_Management_9_Basic_Steps\"><\/span>Shopify Inventory Management: 9 Basic Steps<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This is the basic checklist you should follow when you set\nup your shop and products in Shopify. If you want to get more in-depth\nknowledge and recommendations about Shopify Inventory Management, be sure to\nread the whole article.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Define_your_Stock_Keeping_Units\"><\/span>Define your Stock Keeping Units<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.mrpeasy.com\/blog\/stock-keeping-unit-sku-best-practices-for-inventory-classification\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Stock Keeping Units<\/a> (SKUs) are one of the building blocks of an effective inventory management system \u2013 both for your physical stock, and the digital system that handles it. Each kind of item, article, material, part, product, ingredient, assembly \u2013 or however else you refer to the goods you handle \u2013 has a unique SKU number. This code is the basis for neatly tracking it, its information, the inventory levels, and everything related to it.<\/p>\n\n\n\n<p>You can, for example, use this <a href=\"https:\/\/www.mrpeasy.com\/free-sku-generator\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">free SKU generator<\/a>.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Create_your_products\"><\/span>Create your products<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When you have created a Shopify store, you can start adding products for sale in the Products section. Just click \u201cAdd product\u201d, enter the product name, add a detailed description of your products, attach images, define the pricing, save the SKU number, barcode number, etc. Add all the details, which define your products and are important for successful sales via Shopify and for delivery to the customers. Products can later be edited or deleted at any time.<\/p>\n\n\n\n<p>For products that have variations (size, color, etc.), you\ncan add parameters by clicking on the \u201cAdd a variant\u201d option.<\/p>\n\n\n\n<p>If you have to add many products that are similar, but for\nwhich the variant option does not apply, you can duplicate the product that was\ncreated first, and then just modify the name and necessary details to create a\nnew product. This could save a lot of time that could otherwise be wasted on\nunnecessary data entry.<\/p>\n\n\n\n<p>In the product\u2019s \u201cProduct status\u201d section, you can choose\nwhether to make the product active in the shop or not. Availability can also be\nscheduled in case you have some seasonal products. In this section, you can\nalso manage the sales channels of the product.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"350\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-add-products-e1611046010817-1024x350.png\" alt=\"shopify-inventory-management-add-products\" class=\"wp-image-7283\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-add-products-e1611046010817-1024x350.png 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-add-products-e1611046010817-300x103.png 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-add-products-e1611046010817-768x262.png 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-add-products-e1611046010817.png 1074w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Setting up a store and products in Shopify has been made very easy.<\/strong><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Create_product_collections\"><\/span>Create product collections<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>You can create product categories to make shop navigation\neasier for your customers (e.g. shoes for men, women, boys, girls; item types\nsuch as dinner tables, coffee tables, chairs, etc.). You can create and edit\nyour product collections on the \u201cCollections\u201d page of your Shopify admin.<\/p>\n\n\n\n<p>Shopify also allows to set up <a href=\"https:\/\/help.shopify.com\/en\/manual\/products\/collections\/automated-collections\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">automated collections<\/a> so that when certain conditions are met by a new product, it is automatically included in the collection. A manual collection only includes the products that you have specifically added to it. Manual collections are good for setting up flash sales or special collections.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Set_up_inventory_tracking\"><\/span>Set up inventory tracking<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When you open up a shop on Shopify, the system does not automatically turn on inventory tracking \u2013 it needs to be done manually for each product. Check the \u201cTrack quantity\u201d option in an item\u2019s Inventory section, set the quantity of the item, and save. Now the system automatically tracks the inventory levels of your products and updates them with each sale. You can update an item\u2019s quantity manually anytime. You can also choose whether to stop or continue selling a product when it is out of stock. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hide_products_that_are_out_of_stock\"><\/span>Hide products that are out of stock<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When a product is sold out, you can use Shopify\u2019s automated collections\nfunctionality to hide the products from your shop visitors. To do it, you need\nto change the collection conditions so that the Inventory stock for the\nproducts is greater than 0. Now the system will hide the out-of-stock goods\nuntil they are replenished. It is also possible to use a separate inventory\nmanagement app for that. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Manage_purchase_orders\"><\/span>Manage purchase orders<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The \u201cTransfers\u201d section of Shopify Inventory is for recording and tracking purchases, and to update your inventory when your POs have been fulfilled. When you have sent and confirmed a purchase order with your supplier, create a transfer record for it. When the goods are received, mark the order as completed or use the \u201cReceive items\u201d option to record a partial arrival. Use a third-party inventory and <a href=\"https:\/\/www.mrpeasy.com\/procurement-software\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">procurement management app<\/a> if you want all of those processes to be automated.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Use_ABC_XYZ_analysis\"><\/span>Use ABC (+XYZ) analysis<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>ABC analysis is an inventory management technique based on\nthe Pareto principle (the 80\/20 rule). According to the principle, 80% of your\nbusiness is related to 20% of your inventory items. The analysis categorizes\nyour SKUs into groups A, B, and C according to their consumption value, i.e.\ntheir priority for your business. This allows you to be more mindful of more\nimportant items and assign more resources to them. <\/p>\n\n\n\n<p>Shopify has its own ABC analysis module. It does not,\nhowever, have the capacity for XYZ analysis, which is an extension of the ABC\ntechnique. The XYZ part of the process also accounts for fluctuations in the\nconsumption of the SKUs, giving you more accurate, better results.<\/p>\n\n\n\n<p><br> <em>Check out this <a href=\"https:\/\/www.mrpeasy.com\/blog\/abc-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Quick Guide to ABC and XYZ analysis<\/a>.<\/em> <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"849\" height=\"392\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-options-e1611045958835.png\" alt=\"shopify-inventory-management-options\" class=\"wp-image-7285\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-options-e1611045958835.png 849w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-options-e1611045958835-300x139.png 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-options-e1611045958835-768x355.png 768w\" sizes=\"auto, (max-width: 849px) 100vw, 849px\" \/><figcaption class=\"wp-element-caption\"><strong>Shopify also provides you with a number of other inventory-related reports.<\/strong><\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Use_other_inventory_management_techniques\"><\/span>Use other inventory management techniques<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Although Shopify already provides merchants with the basic necessities for managing their stock, there are many inventory control techniques out there that could be very helpful in ensuring that your inventory turnover remains high while inventory costs remain low. You can use the following techniques manually, but they are often included as functionalities in <a href=\"https:\/\/www.mrpeasy.com\/inventory-management-software\/\" target=\"_blank\" rel=\"noreferrer noopener\">inventory management software<\/a>:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Safety Stock<\/h4>\n\n\n\n<p>Safety stock is a buffer of products or materials companies keep in order to avoid <a href=\"https:\/\/www.mrpeasy.com\/blog\/stockout\/\" target=\"_blank\" rel=\"noreferrer noopener\">stockouts<\/a>. By having a safety stock of your SKUs, you can continue doing business even when disruptions occur in the supply chain. <\/p>\n\n\n\n<p><em>Read more about <a href=\"https:\/\/www.mrpeasy.com\/blog\/safety-stock\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Safety Stock<\/a>.<\/em><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Reorder Point<\/h4>\n\n\n\n<p>Reorder point is the set level of inventory which should\ntrigger a purchase order to replenish stock. For example, when there are 100\nunits of an SKU in stock, and the ROP is 20 units, the order should be placed\nwhen 80 units have been sold.<\/p>\n\n\n\n<p><em>Read more about <a href=\"https:\/\/www.mrpeasy.com\/blog\/what-is-reorder-point-and-reorder-point-formula\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Reorder Point<\/a>.<\/em><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Kitting<\/h4>\n\n\n\n<p>Product kitting means creating bundles of your products and\nselling them as kits, often with a small discount. That way you can simplify\nyour inventory and move more products with less hassle. For example, if you\nproduce furniture, instead of offering chairs and a dinner table separately,\nyou could bundle it up into a set of four chairs and a dinner table. This way,\ncustomers will feel more inclined to buy the whole set from you, not cobble one\ntogether by buying chairs from you and a table from another carpenter.<\/p>\n\n\n\n<p><em>Read more about <a href=\"https:\/\/www.mrpeasy.com\/blog\/kitting\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Kitting<\/a>.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Use_Shopify_Apps\"><\/span>Use Shopify Apps<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>As you may notice, the inventory management module of\nShopify is quite basic \u2013 it is not nearly enough to manage a growing business.\nAnd Shopify knows that \u2013 this is why they have started partnerships with\nhundreds of third-party software vendors that have created specialized\nsolutions for different types of problems. <\/p>\n\n\n\n<p>In the <a href=\"https:\/\/apps.shopify.com\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Shopify App Store<\/a>, you will find single-functionality inventory management solutions like kitting and bundling apps, or reorder point notification apps. But you will also find business management suites like MRP and ERP systems.<\/p>\n\n\n\n<p>If you are taking your business seriously, you should\nconsider an all-in-one app to manage everything from sales to inventory to\nfinances. Especially if you make your own products \u2013 in which case, the production\nplanning and scheduling capabilities of an MRP system are indispensable.<\/p>\n\n\n\n<p><em>Read more about <a href=\"https:\/\/www.mrpeasy.com\/production-planning\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Production Planning<\/a> and <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/production-scheduling\/\" target=\"_blank\">Production Scheduling<\/a>.<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"305\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-app-store-1024x305.png\" alt=\"shopify-inventory-management-app-store\" class=\"wp-image-7302\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-app-store-1024x305.png 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-app-store-300x89.png 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-app-store-768x228.png 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-app-store.png 1533w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><strong>Shopify has a special category for inventory management solutions in its App Store.<\/strong><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"5_Useful_Shopify_Inventory_Management_Apps\"><\/span>5 Useful Shopify Inventory Management Apps<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although Shopify is a great platform for selling your\nproducts, it does not offer many of the functionalities needed by more\ndemanding merchants, or those that make their own products.<\/p>\n\n\n\n<p>While Shopify does have an inventory management system\nalready integrated within their system, it only works if your inventory is very\nsimple. Which is not the case in larger businesses, and in most manufacturing.<\/p>\n\n\n\n<p>Manufacturers need functionalities such as Bill of Materials\nmanagement, production planning and scheduling, automatic material booking,\nprocurement planning, etc., that are integrated with the inventory management\nmodule, simplifying and consolidating data management across the whole\nbusiness. And for that, they need to look elsewhere.<\/p>\n\n\n\n<p>Fortunately, Shopify has partnered up with hundreds of\nthird-party software vendors that offer additional functionalities to the\nmerchants \u2013 Shopify Apps. These are integrations between Shopify and other\nsoftware, allowing users to take advantage of both the spectacular commerce\nplatform of Shopify, as well as other great solutions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"MRPeasy\"><\/span>MRPeasy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"441\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-mrpeasy-e1611045909680-1024x441.png\" alt=\"shopify-inventory-management-mrpeasy\" class=\"wp-image-7287\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-mrpeasy-e1611045909680-1024x441.png 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-mrpeasy-e1611045909680-300x129.png 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-mrpeasy-e1611045909680-768x331.png 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-mrpeasy-e1611045909680.png 1214w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><a aria-label=\"MRPeasy (opens in a new tab)\" href=\"https:\/\/www.mrpeasy.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">MRPeasy<\/a> is a simple yet powerful ERP system for small and medium-sized manufacturers and distributors. It offers seamless management of production, <a href=\"https:\/\/www.mrpeasy.com\/blog\/bill-of-materials\/\" target=\"_blank\" rel=\"noreferrer noopener\">bills of materials<\/a>, stock, customers, purchases, finances, and HR.<\/p>\n\n\n\n<p>It centralizes data throughout the company and allows for the automation of a lot of business management processes while syncing up sales and inventory with Shopify. From customer orders, it is possible to automatically schedule manufacturing operations according to materials availability, vendor lead time, and available production capacity.<\/p>\n\n\n\n<p>When the products are ready for shipment, it is reflected in Shopify as well. Stock is synchronized, and production costs and sales are reflected in the accounting module.<\/p>\n\n\n\n<p>The system also allows for analyzing business performance, creating both material and product kits, managing barcodes, and many more inventory management tools.<\/p>\n\n\n\n<p>MRPeasy starts from $49\/month. This makes it one of the most affordable solutions with this level of functionality on the market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tier\"><\/span>Tier<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"512\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-tier-e1611041855799-1024x512.jpg\" alt=\"shopify-inventory-management-tier\" class=\"wp-image-7289\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-tier-e1611041855799-1024x512.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-tier-e1611041855799-300x150.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-tier-e1611041855799-768x384.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-inventory-management-tier-e1611041855799.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Tier allows you to create product bundles and kits with\ndynamic discounts, which will simplify inventory management and increase\naverage order value. It is fully customizable and very easy to use. It also has\na free plan available.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Quick_Scan\"><\/span>Quick Scan<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"484\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-app-quick-scan-1024x484.jpg\" alt=\"shopify-app-quick-scan\" class=\"wp-image-7293\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-app-quick-scan-1024x484.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-app-quick-scan-300x142.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-app-quick-scan-768x363.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-app-quick-scan.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Quick Scan allows you to create barcodes for your goods,\nmaking tracking and updating your inventory much easier. It works with any\nbarcode scanner and allows you to create orders just by scanning a product\u2019s\nbarcode.<\/p>\n\n\n\n<p>Quick Scan starts from $5\/month<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Stocky\"><\/span>Stocky <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"406\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-stocky-1024x406.jpg\" alt=\"shopify-stocky\" class=\"wp-image-7295\" srcset=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-stocky-1024x406.jpg 1024w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-stocky-300x119.jpg 300w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-stocky-768x305.jpg 768w, https:\/\/www.mrpeasy.com\/blog\/wp-content\/uploads\/2021\/01\/shopify-stocky.jpg 1600w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Stocky is actually Shopify\u2019s own inventory management\nextension. It helps you manage inventory ins and outs, keep out-of-stock\nmerchandise out of sight, keep track of purchase orders, and communicate more\neffectively with suppliers and vendors.<\/p>\n\n\n\n<p>It also lends an analytical hand by giving you insight into\nwhat sells and what does not, and by allowing you to forecast demand based on\nyour sales.<\/p>\n\n\n\n<p>Stocky is free, but only available to Shopify POS users.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"QuickBooks_Commerce\"><\/span>QuickBooks Commerce<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>QuickBooks Commerce is a business management platform that\nhas grown out of accounting software. Having recently bought TradeGecko,\nQuickBooks now allows users to handle inventory and order management, and also\nhas some functionality for manufacturers \u2013 a BOM management module, for\nexample.<\/p>\n\n\n\n<p>It is a good and easy-to-use platform for inventory management, but does not solve many problems for manufacturers.<\/p>\n\n\n\n<p>QuickBooks Commerce starts from $39\/month<\/p>\n\n\n<div class=\"banner-v1\">\n    <div class=\"banner__text\">\n        <div class=\"banner-v1__title\">Tie your whole business together<\/div>\n        <div class=\"banner-v1__desc\">MRPeasy integrates sales, purchases, inventory, production, and finances to give you an accurate real-time overview of your operations.<\/div>\n        <div><a class=\"banner-v1__link\" href=\"https:\/\/www.mrpeasy.com\/sign-up\/\" target=\"_blank\" data-ga-event=\"blog_signup_banner_white\">Try for free<\/a><\/div>\n    <\/div>\n    <div class=\"banner__img\">\n        <img decoding=\"async\" src=\"https:\/\/www.mrpeasy.com\/blog\/wp-content\/themes\/mrpeasy\/assets\/images\/banner.svg\" alt=\"banner\">\n    <\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Opening up a store in Shopify is easy, but managing its\ninventory might prove to be difficult when you are looking to develop a proper\nbusiness. Even though Shopify has its own inventory management solutions on\noffer, they will lose their usefulness as a business\u2019s need for different\nfunctionalities grows.<\/p>\n\n\n\n<p>Luckily, Shopify knows that their solutions do not meet the\nrequirements of larger stores and those that manufacture their own products.\nThat is why they have partnered up with other, third-party software providers. <\/p>\n\n\n\n<p><em>You may also like <a href=\"https:\/\/www.mrpeasy.com\/blog\/procurement-management\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">Procurement Management \u2013 A Quick Guide for Small Manufacturers<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Setting up a business in Shopify is an easy thing to do. Properly managing that business, however, takes work. Here are some techniques and apps for effective Shopify inventory management. You can also listen to this article:<\/p>\n","protected":false},"author":7,"featured_media":7281,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[90,96,94,362],"tags":[380,382,479,481,283,50,245,482,480,240],"class_list":["post-7280","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-choosing-a-software","category-inventory","category-tips","category-sales","tag-abc-analysis","tag-abc-xyz-analysis","tag-ecommerce","tag-ecommerce-statistics","tag-inventory-control","tag-inventory-management","tag-shopify","tag-shopify-apps","tag-shopify-inventory-management","tag-stock-keeping-units"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Shopify Inventory Management Basics for SMEs<\/title>\n<meta name=\"description\" content=\"Setting up a business in Shopify is easy. But properly managing that business takes work. Here are some tips for effective Shopify inventory management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mrpeasy.com\/blog\/shopify-inventory-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shopify Inventory Management Basics for SMEs\" \/>\n<meta property=\"og:description\" content=\"Setting up a business in Shopify is easy. But properly managing that business takes work. 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